Retail gasoline and oil prices today, May 16th, at the Vietnam National Group of Industry - Energy (PVOIL) system continue to be maintained according to the adjustment level from the operating period at 3:00 PM on May 14th of the inter-Ministry of Industry and Trade - Finance:
After many strong fluctuations, the domestic fuel price level is showing a clear downward trend.
According to PVOIL's latest price list, RON 95-III gasoline is currently sold at 24,070 VND/liter, down 280 VND/liter compared to the previous operating period. This is also the first time in recent sessions that the price of RON 95 has retreated close to the 24,000 VND/liter mark.
Meanwhile, E10 RON 95-III gasoline is currently listed at 23,450 VND/liter, down 280 VND/liter. E5 RON 92-II gasoline decreased the most with a decrease of 660 VND/liter, down to 23,130 VND/liter.
In the oil group, DO 0.05S-II oil is currently sold at a price of 27,220 VND/liter, down 270 VND/liter compared to the previous operating period. DO 0.001S-V oil also decreased by 270 VND/liter, currently anchored at 28,480 VND/liter.
According to records, the retail price level at PVOIL is currently equivalent to Petrolimex and MIPEC in many key commodities such as RON 95-III gasoline, E5 RON 92-II gasoline and diesel oil. This shows that the domestic gasoline and oil market is entering a more stable phase after a sharp increase in early May.
Notably, from May 15, PVOIL also officially deployed the business of E10 biofuel on the entire system of nearly 1,000 gas stations nationwide. The enterprise said that all preparations for blending, storage, transportation and distribution infrastructure have been completed to serve the large-scale biofuel conversion process.
This price decrease reflects the impact of the cooling trend of world oil prices after a period of strong fluctuations related to geopolitical tensions and concerns about global energy supply.
